RAJAF on OTC
TFA Therapeutics, Inc.
TFA Therapeutics, Inc. is a medicinal chemicals and botanical products company, listed on OTC (RAJAF).1
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Last updated Oct 21, 2026.
Overview
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- TickerRAJAF on OTC1
- IndustryMedicinal Chemicals & Botanical Products1
- Business address6Th Fl., No. 15, Lane 548, Ruiguang Road, Neihu District, Taipei City3
- Filer categoryNon-accelerated filer, Emerging growth company3
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Mr. Niu agreed to release the Company from the obligation to repay the Debt, which shall be deemed paid in full.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product Sales brought in 86% of the revenue TFA Therapeutics, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Product Sales | $601.6K | $1.2M | $1.1M |
| Revenue Related Parties | $126.9K | $52.9K | $175.4K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue39¢$484.6K
- Other costs61¢$760.7K
Out of $1.2M in revenue.2 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $1.2M | $1.3M | $882.5K |
| Total cost of revenue | $484.6K | $347.0K | $116.1K |
| Gross profit | $760.7K | $906.5K | $766.4K |
| General and administrative | $901.9K | $1.1M | $538.6K |
| Total operating expenses | $901.9K | $1.1M | $538.6K |
| (Loss) income from operations | -$141.1K | -$183.9K | $227.8K |
| Interest income (expense), net | -$19.2K | -$17.1K | -$39.8K |
| Gain on disposal of fixed assets | $4.3K | ||
| Other income | $5.5K | $5.3K | $2.8K |
| Total non-operating expense, net | -$13.7K | -$7.4K | -$37.0K |
| (Loss) income before income taxes | -$154.8K | -$191.3K | $190.8K |
| Income tax expense | $35.0K | $21.5K | |
| Net (loss) income from continuing operations | -$154.8K | -$226.3K | $169.3K |
| Loss from discontinued operation, net of income tax | -$282.8K | ||
| Gain from sale of discontinued operation, net of income tax | $865.1K | ||
| Gain (loss) from discontinued operation, net of income tax | $582.3K | ||
| Net (loss) income | -$154.8K | -$226.3K | $751.6K |
| Foreign currency translation | -$4.2K | $2.5K | $47.9K |
| Comprehensive (loss) income | -$159.0K | -$223.7K | $799.5K |
| Continuing operations - basic (in Dollars per share) | $0 | $0 | $0 |
| Continuing operations - diluted (in Dollars per share) | $0 | $0 | $0 |
| Discontinued operations - basic (in Dollars per share) | $0 | ||
| Discontinued operations - diluted (in Dollars per share) | $0 | ||
| Net (loss) income per common share - basic (in Dollars per share) | $0.00 | $0.00 | $0.01 |
| Net (loss) income per common share - diluted (in Dollars per share) | $0.00 | $0.00 | $0.01 |
| Basic (in Shares) | 111.1M shares | 111.1M shares | 111.1M shares |
| Diluted (in Shares) | 111.1M shares | 111.1M shares | 111.1M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $3.2K | $37.3K | ||
| Accounts receivable | $305 | |||
| Consumptive biological assets | $305.0K | |||
| Inventories | $674.2K | |||
| Other receivables | $5.1K | |||
| Prepaid taxes | $214.9K | $201.2K | ||
| Other current assets | $100.3K | $57.8K | ||
| Total current assets | $997.7K | $601.6K | ||
| Property and equipment, net | $3.6M | $3.9M | ||
| Operating lease right-of-use assets | $13.1K | $99.3K | ||
| Other assets | $13.8K | $13.2K | ||
| Total assets | $4.7M | $4.6M | ||
| Accounts payable | $365.1K | $276.1K | ||
| Accrued expenses | $85.1K | $32.4K | ||
| Income tax payable | $24.0K | |||
| Other payable | $4.0M | $3.9M | ||
| Advance receipts | $4.9K | |||
| Other current liabilities | $7.9K | $5.2K | ||
| Operating lease liabilities current portion | $13.2K | $87.0K | ||
| Long-term loans payable current portion | $465.2K | $448.2K | ||
| Total current liabilities | $5.2M | $5.0M | ||
| Operating lease liabilities noncurrent portion | $12.6K | |||
| Total Liabilities | $5.2M | $5.0M | ||
| Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 111,120,000 shares issued and outstanding as of December 31, 2025 and 2024 | $11.1K | $11.1K | ||
| Additional paid-in capital | $221.3K | $221.3K | ||
| Accumulated deficit | -$854.0K | -$699.2K | ||
| Accumulated other comprehensive income | $87.1K | $91.3K | ||
| Total stockholders deficit | -$534.6K | -$375.5K | -$151.8K | -$951.3K |
| Total liabilities and stockholders deficit | $4.7M | $4.6M | ||
| Ordinary shares, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Ordinary shares, shares authorized (in Shares) | 500.0M shares | 500.0M shares | ||
| Ordinary shares, shares issued (in Shares) | 111.1M shares | 111.1M shares | ||
| Ordinary shares, shares outstanding (in Shares) | 111.1M shares | 111.1M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $3.2K | $37.3K | ||
| Accounts receivable | $305 | |||
| Consumptive biological assets | $305.0K | |||
| Inventories | $674.2K | |||
| Other receivables | $5.1K | |||
| Prepaid taxes | $214.9K | $201.2K | ||
| Other current assets | $100.3K | $57.8K | ||
| Total current assets | $997.7K | $601.6K | ||
| Property and equipment, net | $3.6M | $3.9M | ||
| Operating lease right-of-use assets | $13.1K | $99.3K | ||
| Other assets | $13.8K | $13.2K | ||
| Total assets | $4.7M | $4.6M | ||
| Accounts payable | $365.1K | $276.1K | ||
| Accrued expenses | $85.1K | $32.4K | ||
| Income tax payable | $24.0K | |||
| Other payable | $4.0M | $3.9M | ||
| Advance receipts | $4.9K | |||
| Other current liabilities | $7.9K | $5.2K | ||
| Operating lease liabilities current portion | $13.2K | $87.0K | ||
| Long-term loans payable current portion | $465.2K | $448.2K | ||
| Total current liabilities | $5.2M | $5.0M | ||
| Operating lease liabilities noncurrent portion | $12.6K | |||
| Total Liabilities | $5.2M | $5.0M | ||
| Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 111,120,000 shares issued and outstanding as of December 31, 2025 and 2024 | $11.1K | $11.1K | ||
| Additional paid-in capital | $221.3K | $221.3K | ||
| Accumulated deficit | -$854.0K | -$699.2K | ||
| Accumulated other comprehensive income | $87.1K | $91.3K | ||
| Total stockholders deficit | -$534.6K | -$375.5K | -$151.8K | -$951.3K |
| Total liabilities and stockholders deficit | $4.7M | $4.6M | ||
| Ordinary shares, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Ordinary shares, shares authorized (in Shares) | 500.0M shares | 500.0M shares | ||
| Ordinary shares, shares issued (in Shares) | 111.1M shares | 111.1M shares | ||
| Ordinary shares, shares outstanding (in Shares) | 111.1M shares | 111.1M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) income | -$154.8K | -$226.3K | $169.3K |
| Depreciation | $135.2K | $407.3K | $56.8K |
| Amortization | $74.0K | $16.8K | |
| Operating lease expense | $91.3K | $90.6K | $81.2K |
| Gain on disposal of assets | -$4.3K | ||
| Non-cash interest expense | $17.1K | $17.1K | $33.2K |
| (Increase) decrease in other receivables | -$5.1K | $2.3K | -$2.4K |
| Increase in inventories | -$358.5K | ||
| Decrease (increase) in consumptive biological assets | $320.8K | -$124.6K | -$192.6K |
| Decrease (increase) in prepaid expenses | $20.4K | -$27.2K | |
| Increase in prepaid taxes | -$4.6K | -$103.8K | -$104.8K |
| Increase in other current assets | -$134.5K | -$48.6K | -$449 |
| Increase in accounts payable | $77.0K | $104.6K | $182.8K |
| Increase in accrued expenses | $51.5K | $7.4K | $26.5K |
| Increase in due to related parties | $3.8K | $193.4K | |
| Increase in advance receipts | $4.9K | ||
| (Decrease) increase in other payable | -$60.0K | $89.3K | $131.3K |
| (Decrease) increase in income taxes payable | -$25.3K | $3.6K | $21.5K |
| Increase in other current liabilities | $2.4K | $5.3K | |
| Repayment for operating lease liabilities | -$91.5K | -$91.0K | -$80.5K |
| Net cash provided by (used in) operating activities from continuing operations | -$35.8K | $312.0K | $321.8K |
| Net cash provided by operating activities from discontinued operations | $37.9K | ||
| Net cash provided by (used in) operating activities | -$35.8K | $312.0K | $359.7K |
| Purchase of property and equipment | -$349.2K | -$319.5K | |
| Proceeds from disposal of fixed asset | $43.6K | ||
| Net cash used in investing activities from continuing operations | -$305.6K | -$319.5K | |
| Net cash used in investing activities from discontinued operations | -$333 | ||
| Net cash used in investing activities | -$305.6K | -$319.8K | |
| Proceeds from related parties | $14.6K | ||
| Net cash provided by financing activities from continuing operations | $14.6K | ||
| Net cash used in financing activities from discontinued operations | -$46.9K | ||
| Net cash provided by (used in) financing activities | -$32.2K | ||
| Effect of exchange rate changes on cash and cash equivalents | $1.8K | $7.8K | -$692 |
| Net increase (decrease) in cash and cash equivalents | -$34.1K | $14.2K | $7.0K |
| Interest | $2.2K | $150 | |
| Income taxes | $20.9K | ||
| Recognition of lease assets and liabilities | $114.7K | ||
| Accrued liability for property and equipment | $1.4M | $2.4M | |
| Sale of subsidiaries in exchange for debt cancellation | $1.2M |
No quarter-by-quarter statement was filed.
What it owns
What TFA Therapeutics, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $4.6M2 Dec 31, 2025 | $4.4M2 Dec 31, 2024 | +4.4% |
| Accumulated depreciation | $942.6K2 Dec 31, 2025 | $472.1K2 Dec 31, 2024 | +99.7% |
| Property and equipment, net | $3.6M2 Dec 31, 2025 | $3.9M2 Dec 31, 2024 | −7.1% |
| Operating-lease assets (leased space) | $13.1K2 Dec 31, 2025 | $99.3K2 Dec 31, 2024 | −86.8% |
Investments
Inventory
Former names
- Cordyceps Sunshine Biotech Holdings Co., Ltd.Dec 6, 2021 to Jun 25, 20263
Filings
38 filings to the SEC since October 2021: 6 annual reports, 32 other. The latest 20:
- Sep 2, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jul 27, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jun 25, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- May 15, 202620-F ANNUAL REPORT EDGAR
- Apr 30, 2026NT 20-F NOTIFICATION OF LATE FILING EDGAR
- Nov 26, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Sep 23, 202520-F/A AMENDMENT NO. 2 TO FORM 20-F EDGAR
- Jun 13, 202520-F ANNUAL REPORT EDGAR
- Apr 30, 2025NT 20-F NOTIFICATION OF LATE FILING EDGAR
- Dec 6, 20246-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Nov 8, 2024UPLOAD EDGAR
- Oct 28, 2024CORRESP EDGAR
- Oct 28, 202420-F/A AMENDMENT NO. 1 TO FORM 20-F EDGAR
- Sep 4, 2024UPLOAD EDGAR
- Jul 5, 202420-F ANNUAL REPORT EDGAR
- Apr 30, 2024NT 20-F NOTIFICATION OF LATE FILING EDGAR
- Mar 19, 20246-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Nov 13, 20236-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Sep 28, 20236-K CURRENT REPORT EDGAR
- May 15, 202320-F ANNUAL REPORT EDGAR
The 38 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
SEC filer profile
How TFA Therapeutics, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARTFA Therapeutics, Inc.1
- CIK0001885680
- Filer statusNon-accelerated filer an emerging growth company; not a shell company4
- Incorporated inCayman Islands4
- Fiscal year endsDecember 311
- Industry code (SIC)2833 Medicinal Chemicals & Botanical Products1
- SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
- Business address6Th Fl., No. 15, Lane 548, Ruiguang Road, Neihu District, Taipei City, Taiwan1
- Phone886-2-274890911
- Shares outstanding111,120,000 shares as of Dec 31, 20254
- AuditorYCM CPA INC, Irvine, California PCAOB ID 6781; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceDec 6, 20211
- Filings38 in all: 6-K (8), UPLOAD (6), 20-F (4), CORRESP (4), NT 20-F (4), 20-F/A (2), DRS/A (2), DRSLTR (2)1
All 13 form types
F-1/A (2), 424B4 (1), DRS (1), EFFECT (1), F-1 (1)
- Latest filingsAnnual report (20-F) May 15, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| None | NONE |
From the cover page of the 20-F filed May 15, 2026 (Section 12(b) of the Exchange Act).4
Sources
The numbers on this page point here. Each one links to the record it came from.
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